Chronicles of an Idiot

Stop 972.50

Have to be on a conference call in a few minutes. I'll recap later this evening. Take care.

Sorry Lost My mind a little here. Hope you can forgive me.
4:00 Rule B/E Count as a failure:mad:
 
Quote from VisionTrader:

Stop 986.50

Stop moved to 982.50 to lock in +2 points. Will bounce on the bottom most likely.

Stop to 981.25 to lock in +3

Stop to 978.50
Stop to 975
More...

I thought you were trading divergences. At 984.5 I could not spot any stochastics divergence on my charts. Could you post your charts or elaborate on your rationale behind this trade?

Thanks,
Wally
 
Quote from wally_:



I thought you were trading divergences. At 984.5 I could not spot any stochastics divergence on my charts. Could you post your charts or elaborate on your rationale behind this trade?

Thanks,
Wally
More...


Well, someone is actually paying attention. I did not think anyone really came in here.

Okay, you have asked a very good question .

First you have to understand the six points as indicated on the chart. Once this divergence occurred, I filtered the entry point because I was not getting the confirmation yet. I did not get confirmation on this until the candle that was a little later. Then I got strong confirmation.

In this case I got a strong signal even though the 1M signal had passed. You would still have been okay in this case if you had entered based on my "previously posted" VTDT trade set up. I have just learned, with a little "Vision" to filter the signals. Takes practice, but I'm starting to get it consistently.

Hope this helps.
 

Attachments

Quote from VisionTrader:

Stop 972.50

Have to be on a conference call in a few minutes. I'll recap later this evening. Take care.

Sorry Lost My mind a little here. Hope you can forgive me.
4:00 Rule B/E Count as a failure:mad:
More...

I should not have done this. THis is one of the down falls of not having real money on the line. I will not do it again. It really skews the results.

Signed ashamed.
 

5 Postions Taken
3 Sucessful
1 Failed
1 Breakeven

60% ( I am counting the Breakeven trades as failures)


Daily P/L = +12.5 Points

1 contract = $625


Overall today was a pretty good day. Got lost in the lunchtime, Fed rate shuffle, but rebounded with a good trade in the afternoon. The trade right before close skewed things a little. Maybe its good to keep the numbers realistic.

Hope to be at it tommorrow. Take care.
 
VT,

There are a few trades I've seen that you do NOT take (and that can be as important as the trades you DO take). For example, on Wed. June 25, there was a sell divergence trade at about 10:02am and another one at 10:25am. Can you explain why these were not taken ?

Thanks.
 
Quote from trader416:

VT,

There are a few trades I've seen that you do NOT take (and that can be as important as the trades you DO take). For example, on Wed. June 25, there was a sell divergence trade at about 10:02am and another one at 10:25am. Can you explain why these were not taken ?

Thanks.
More...

The 10:02 trade...

It is very risky to take the first signal "against" an establishing trend. Price moved up approx 7 points here. Additionally, there was not confirmation on my filter for this trade.

The 10:25 trade...

Did not have confimation yet, I would not take this trade unless all the stars and heavens lined up because there is an obvious strong uptrend in place. Only an idiot would try to fight that, especially on the 1M chart. I would be looking for a long set-up here and it came at 10:44 and was successful.

Hope this helps.
 
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